Broker Check

How We Work

Step 1

Collect Data

Step 2

Develop Plan

Step 3

Implement Plan

Step 4

Execute Plan

Step 1  - Collect Data

We gather data to ensure a thorough understanding of your situation. It will show your current asset allocation, your net worth, the direction and rate of its change, your cash flow, income and estate tax liability and other items.

Step 2  - Develop Plan

Step two is to develop your personal financial objectives and identify problems that are present in your current planning. Frequently, our clients say "it's to make sure that I have a source of income that I cannot outlive, and secondarily, to leave a legacy for my family, and, perhaps the community". But often it's more complex, and involves thinking about things that you have never considered, prompted by questions that perhaps you have never been asked. This is basically a process of reconciling the likely outcome based upon your current arrangements, with your desired outcome as described in your objectives. It is in this step that the full benefit of the planning process becomes apparent. Issues that you never thought of, problems that you never realized existed will be identified - simply because your financial picture was never so completely developed, and your objectives never so clearly and completely stated.  

Step 3  - Implement Plan

Step three entails the development of recommendations, specific strategies for implementation. Equipped with pros and cons of each, and an economic model to determine their impact, you'll be able to determine what is appropriate for you. Many strategies you will elect to implement, some now, some in the future, others you will reject. But the decision will be yours. The agreed upon strategies will be reduced to writing in a comprehensive report.  

Step 4  - Execute Plan

This step is implementation and ongoing review of the process. This is where your other advisors will be most instrumental. You will have a game plan, a specific course of action to take to your attorney. Armed with this information, he or she will be in a position to help you. He or she will draft or amend the required documents. Your CPA will be instrumental in the documentation of many of the strategies involved. Again, there are strategies that had you not first determined your basis (your objectives), and a method of evaluation (the financial model), then you would not have been equipped to pursue them.  Finally, at least annually, an update of your plan should be done to encompass any changes in the economy and the tax law, as well as in your personal situation and objectives. As a result of this process, you can be comfortable that your plan continues to be up to date.  

This is where your other advisors will be most instrumental. You will have a game plan, a specific course of action to take to your attorney. Your CPA will be instrumental in the documentation of many of the strategies involved. Finally, at least annually, an update of your plan should be done to encompass any changes in the economy and the tax law, as well as in your personal situation and objectives. As a result of this process, you can be comfortable that your plan continues to be up to date.  

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